Ambrose Evans-Pritchard reports that the European Central Bank will probably exercise the “nuclear option” to directly monetize the government debt of Greece, Spain, Italy, etc. This is not good news for Europeans or anyone else, except for states and their bankers, militaries, and other enemies of mankind. Arrogant and foolish central bankers, in the mold of Greenspan and Bernanke, are wrecking the world economy, with the help of fractional reserves, as Keynes applauds from the Underworld. (Thanks to Bill Sardi)

The Best of Llewellyn H. Rockwell, Jr.